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Good Faith
An honest intent to act without taking an unfair advantage over another person in a transaction.
Chapter 13
A form of U.S. bankruptcy allowing individuals earning regular income to develop a plan to repay all or part of their debts over time.
Debtor
A party that has a financial obligation or debt to another party, referred to as the creditor, within a commercial transaction.
Automatic Stay
A legal provision that halts proceedings and lawsuits against a debtor immediately upon the filing of a bankruptcy petition.
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